Home Inspections

A fresh coat of paint or new carpeting may disguise serious
flaws. That's why you want to make sure a professional inspects your new home.

It's important to have a qualified inspector completely
inspect the home you are planning to buy. If you by-pass the inspection and
later discover that your house needs repairs, you will ultimately spend more
money in the long run.

A qualified professional home inspector surveys the foundation
and structure, roof, exterior, major systems (electrical, heating, cooling and
plumbing), and appliances that stay with the home.

Tour the house with the inspector, who will point out
potential trouble areas, as well as what's in good working order. If the
inspection does uncover some flaws, a seller is often willing to make repairs,
but it may depend on market conditions. Take notes as you tour. Get the
inspection report in writing. This document will support or deny the repair
contingency addendum to your agreement.

Home inspectors who primarily focus on structural integrity
and working systems might not be qualified to conduct specialized inspections
for radon, asbestos and lead paint - substances that in recent years have
emerged as the most common environmental concerns for home buyers. Testing for
these substances typically requires a specialist who will charge a fee beyond
the basic cost of a general home inspection.

An inspection may take a few hours and cost a few hundred
dollars, but it can save you time and headaches in the long run. Your real
estate professional can recommend a professional inspector. We always recommend
you get your own inspection with your own inspector.

As with any other inspection issue, the estimated expense of
remedying a toxic substance situation may have already been factored into the
home's listing price. Other times, the outcome of an inspection might become a
negotiating point.

There are two methods regarding inspections in the North
Carolina offer to purchase.

Method one gives the buyer the option to
conduct various inspections within an agreed upon time frame after the offer
is fully negotiated and agreed upon. After the completion of these
inspections the buyer and seller negotiate repairs to be made, if necessary.
Under this alternative the buyer may request repairs of mechanical and/or
structural nature, as defined in the offer to purchase. The sellers then
have the option to make the requested repairs, attempt to negotiate the
repairs or decline to make the repairs. Should the seller decide not to make
the repairs, or attempt to negotiate the repairs, the buyer has the option
to accept the home as is, or not purchase the home and have their earnest
money returned.

Method two allows the buyer an option period
during which time all inspections are to be completed. The time allowed and
fee paid for this option are determined by the buyer and seller. At the end
of this period the buyer decides to purchase or not purchase your home based
on the results of the inspections. Should the buyer decide to purchase your
home the transaction proceeds as normal and the option fee is deducted from
the amount the buyer is required to bring to closing. Should the buyer
decide not to purchase the home the seller retains the option fee. During
the option period, the home will continue to be shown and marketed.

Reasons why every property should be inspected prior to
purchase:

Pre-owned houses: The older the house, the greater
the likelihood you'll find defects in its mechanical and structural systems.
Know what you are buying.

New Construction: Even a newly constructed,
never-been-lived-in home may have problems the average home owner may not
see. Having it thoroughly inspected is wise. Just because the building is
new doesn't guarantee everything is perfect. Find out what your builder
warranty covers and for how long.

Condo's/Multi-family: You need an inspection before
buying a condominium and/or any multi-family property. Don't forget when you
buy a condo, you're also buying into the entire building or complex in which
your condo is located. As a co-owner of the entire community, you may be
assessed your proportional share of the cost for corrective work required in
common areas, such as the roof, heating system, or foundation.

In summation all properties should be inspected. Inspect
detached residences, attached residences, single-family dwellings,
multifamily dwellings, condos, coops, townhouses, and anything else that has
a foundation and a roof. Protect your investment by having it inspected.

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